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Bi Monthly Market Update | Profits and dividends drive the ASX higher and higher…

By Katy O'Shea

Profits and dividends drive the ASX higher and higher…

  • Last night the US Senate passed the $750 billion Infrastructure package which will add further stimulus to the US economy.
  • Lockdowns have caused business confidence to plunge across Australia, confidence remains the highest in WA.
  • Whilst consumer confidence is expected to fall, with fast-rising vaccination rates most economists feel we will avoid a second quarter of negative GDP growth (and therefore a recession).
  • Reporting season is showing strong profit and dividend growth driving equity markets higher. The S&P ASX – 200 has recorded new highs and closed trading a little down at 7,584.3.
  • The Aussie dollar is now at $US .733 and some are forecasting a fall below $US .70 which will be very welcome news for our exporters.
  • For a bit of fun here are two places I’ve been told to research and get to next holidays – Dales Gorge in Karijini National Park and Queenstown in NZ.
  • The number of properties listed for sale in Perth continues to fall – now at 8,363. If equilibrium in the market is around 12,000, clearly we are in a seller’s market.
  • Call me to find out what all these market factors mean to the value of your home.

Authored by Jody Fewster

Please call 0414 688 988 if I can provide you with a current market appraisal and detailed marketing plan for your home or investment property.
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